Axios
SpaceX disclosed Wednesday that it plans to raise $75 billion in its initial public offering, which is expected to occur within a few weeks. Why it matters: This would be the largest IPO ever , and it's not even close. The current global record is $29.4 billion by Saudi oil giant Aramco in late 2019, while the U.S. exchange mark was set in 2014 by China's Alibaba with $25 billion. Zoom in: SpaceX says that it plans to offer 555.6 million shares at $135 per share. It would be valued about $1.75 trillion at that price. The big picture: SpaceX began as a space launch company and currently makes most of its money from the Starlink connectivity service. Its big bet, however, is on artificial intelligence and orbital data centers . Musk's company argues the AI sector offers $26.5 trillion in total addressable market (TAM) — a figure that's impossible to verify. For context, the entire U.S. gross domestic product is around $32 trillion.
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